|
|
Location: Grand Rapids, MI | Bass Pro Shops has reached a deal to acquire outdoors retail competitor Cabela's and take the company private in a deal valued at $5.5 billion, the companies said Monday.
|
|
| |
|
Posts: 574
Location: Elk Grove Village, IL & Phillips, WI | I have mixed feelings on this one. I still liked Cabela's selection (online/catalog) over Bass Pro, but their store in Hoffman Estates, IL has become a joke. It used to be 2 stories of great selection, Now the upstairs is closed and there is very little on the single floor that remaines.
Edited by KenK 10/3/2016 11:55 AM
|
|
| |
|
Posts: 400
Location: Metro | KenK - 10/3/2016 11:42 AM
I have mixed feelings on this one. I still liked Cabela's selection (online/catalog) over Bass Pro, but their store in Hoffman Estates has become a joke. It used to be 2 stories of great selection, Now the upstairs is closed and there is very little on the single floor that remained.
I don't think they are changing the brand name are they? |
|
| |
|
Posts: 8781
| Not sure how I feel about this... Always preferred Cabela's products over the BPS stuff, but our local BPS is a LOT nice than the local Cabela's. |
|
| |
|
Posts: 2515
Location: Waukesha & Land O Lakes, WI | The store in Richfield WI has become a waste land compared to what it was 3 years ago. Many of the shelves are bare. Personally, I like having the option of running up there if I need something we don't carry. I really don't want to see it close or become a BPS. |
|
| |
|
Posts: 750
Location: Minneapolis, MN | I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
|
|
| |
|
Posts: 351
Location: Vilas County, WI | dami0101 - 10/3/2016 1:02 PM
I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
^ X2 |
|
| |
|
| Cabelas had gotten to the point they needed a partner or their long term survival was in doubt. Too much debt, too many stores. BPS says they will remain separate entities, each doing what they do best. I hope that is true, because it could be a win for sportsmen. Better BPS than Wally World. |
|
| |
|
Posts: 1220
| This is pretty interesting,especially in light of BPS buying Ranger Boats and all the other brands of Fishing Holding just a year or so ago. Personally, I found Bass Pro to be the far superior horse in this race and am not a bit surprised by the seemingly big win over the lesser company. I really am hoping the Richfield store becomes a Bass Pro. I had actually stopped shopping there!7 |
|
| |
|
Posts: 13688
Location: minocqua, wi. | they'll both fall victim to amazon prime eventually ... anything that is available on amazon prime is 1. easier to shop for, 2. no more expensive and 3. less expensive and quicker to acquire. not all of the products but quite a few of them. i shop on cabelas and buy on amazonprime |
|
| |
|
Posts: 1209
| TheShow - 10/3/2016 1:15 PM
dami0101 - 10/3/2016 1:02 PM
I am not a fan of this, it will just mean less competition, fewer options, and higher prices. I’ve always felt like you could get some killer deals at Cabela’s if you timed it right, never felt that way about BPS.
^ X2
X3 ^^^. And way better than someone like wall mart |
|
| |
|
Posts: 859
Location: MN | I too have mixed feelings. I really like some aspects of Cabelas other not so much.. I really like Bass Pro for fishing related items and the bigger waterfowl selection... I also think Bass Pro is more family friendly with activities for the kids. I'm hoping they combine the best of each. I read the press release and they seem to understand a mix of both is the right way to go. They're a smart company which is why they are in the position to purchase Cabelas.. I expect great things to come out of this. I know some are worried about less competition but that might just help small bait shops get more business now.. .
Edited by NathanH 10/3/2016 1:55 PM
|
|
| |
|
Posts: 2515
Location: Waukesha & Land O Lakes, WI | I don't really shop any of the big box stores for Musky lures anyway. All of them have the same selection of Cowgirls, Bulldawgs and Bucher baits and are usually priced around the same. St.Croix rods are MAP priced so they're the same. And Abu has their reels mfg priced as well for the most part.
How much do you guys actually shop at big box stores? Obviously I work for Gander Mtn, but I cannot remember the last time I actually bought a bait, leader or rig at Gander. |
|
| |
|
Posts: 705
Location: Alex or Alek? | Gander Mt Guide - 10/3/2016 2:18 PM
How much do you guys actually shop at big box stores?
Unless I order online, I don't have any other options other then scheels and gander here in Fargo, and most small bait shops in the lakes area don't have much of a muskie selection. |
|
| |
|
Posts: 133
| what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them? |
|
| |
|
Posts: 2515
Location: Waukesha & Land O Lakes, WI | rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
From what I've read, you'll be fine. |
|
| |
|
Posts: 400
Location: Metro |
How much do you guys actually shop at big box stores? Obviously I work for Gander Mtn, but I cannot remember the last time I actually bought a bait, leader or rig at Gander.
I shop at big box stores most of the time because they usually have anything I need last minute. That being said I wish they would carry a bit better variety. I have recently been buying things online but when I was first starting out I liked to look at a bait before buying. Now that I know a lot more about baits and have fished different baits that buddies have had. I feel more confident buying online. I still wish you could find more stuff in stores but I realize it sometimes it isn't realistic for bait makers (they can only make so many). |
|
| |
|
Posts: 4343
Location: Smith Creek | rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
|
|
| |
|
Posts: 280
Location: US | I only shop at Cabelas to use my club points. Rollie and Hellens, Thorne Bros, MTO, TRO, etc are much better places for musky tackle anyways. Lately it seems like cabelas is one of the most expensive places for outdoor gear. |
|
| |
|
Posts: 42
| Flambeauski - 10/4/2016 4:59 AM
rich - 10/3/2016 3:11 PM
what will this do to the Cabelas point with their credit cards? That is what Im worried about! Hopefully they will still accept them?
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
Edited by fishpmc 10/3/2016 5:26 PM
|
|
| |
|
Posts: 32886
Location: Rhinelander, Wisconsin | Bass Pro Shops Release
Read it!
Attachments
----------------
 th.jpg (17KB - 369 downloads)
032813_logo_2_web.jpg (14KB - 350 downloads)
|
|
| |
|
Posts: 32886
Location: Rhinelander, Wisconsin | We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting. |
|
| |
|
| sworrall - 10/3/2016 6:23 PM
We also received an open letter from Johnny Morris. We are on the road back from Mississippi, will get a synopsis up tomorrow morning. Please read the release before commenting.
I had read the news release and some financial analysts' take on it before commenting. I think it will be good for Cabela's. There will be efficiencies gained by combining the two, without erasing their individual identity. As a retired banker, I was interested in the Capital One part of the deal. From a couple of posts, apparently the Cabela's card was a big deal for many of their customers. BPS would be foolish to not try and build on that.
I was in the Richfield store right after it opened and then a couple of other times over the next couple years. Huge investment, and I was struck by the fact that each time there were a lot of customers but not that much buying. Maybe like Sled, folks check stuff out in person but then shop online. That really put a hurt on Best Buy. I hope they make it work. Change had to happen at Cabela's or they would have died a slow death like Sears. |
|
| |
|
Posts: 133
| Thank you for the information Steve, this clears up a lot of speculation. Will have to wait and see what happens down the road. Thanks again. |
|
| |
|
Posts: 135
| Well, Cabela's has never been the go-to for a niche market like muskie gear. But many/most of us do a lot more outdoors than just muskies, and for a long time Cabela's has been the go-to for high-quality technical hunting and cold-weather gear. Their store-brand items were at or near the top for performance and the service has always been great if there was ever an issue. That's declined recently with an emphasis on popular items and lower cost, and like others I'm concerned that this purchase will accelerate their push towards more mainstream and less-expensive items. That's okay, there are other options that have stepped up to fill the "gear that's got to work in the cold" market.
Flambeauski - 10/3/2016 3:59 PM
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
That isn't right - the credit card business was actually the part they wanted the least because it's a pain to operate (although profitable). They paid $4.5 bil plus assumed about $1 bil in debt service etc. One of the big hold-ups on the sale for the past year or so was that Cabela's had to divest their credit card business and then find someone else to buy it separately. Since the advent of strict regulation of the credit card industry, Cabela's was one of the last remaining retailers that offered its own credit card - they've essentially all gone to the big banks.
It sounds like there was a deal with BPS and Capital One, with the credit card business being taken over/serviced by Capital One on behalf of BPS, and they say they will offer both BPS and Cabela's branded credit cards that will include their loyalty programs. It'll be like any other rewards card or miles card offered through a big bank and not directly from the company.
|
|
| |
|
Posts: 269
Location: Oregon, WI | I hope they will honor any outstanding Cabela's gift cards. I have about $200 worth sitting at home. |
|
| |
|
Posts: 32886
Location: Rhinelander, Wisconsin | Glaucus_ - 10/4/2016 8:31 AM
Well, Cabela's has never been the go-to for a niche market like muskie gear. But many/most of us do a lot more outdoors than just muskies, and for a long time Cabela's has been the go-to for high-quality technical hunting and cold-weather gear. Their store-brand items were at or near the top for performance and the service has always been great if there was ever an issue. That's declined recently with an emphasis on popular items and lower cost, and like others I'm concerned that this purchase will accelerate their push towards more mainstream and less-expensive items. That's okay, there are other options that have stepped up to fill the "gear that's got to work in the cold" market.
Flambeauski - 10/3/2016 3:59 PM
The only reason they wanted Cabelas was their credit card business. And why they paid 5.5 bil.
That isn't right - the credit card business was actually the part they wanted the least because it's a pain to operate (although profitable ). They paid $4.5 bil plus assumed about $1 bil in debt service etc. One of the big hold-ups on the sale for the past year or so was that Cabela's had to divest their credit card business and then find someone else to buy it separately. Since the advent of strict regulation of the credit card industry, Cabela's was one of the last remaining retailers that offered its own credit card - they've essentially all gone to the big banks.
It sounds like there was a deal with BPS and Capital One, with the credit card business being taken over/serviced by Capital One on behalf of BPS, and they say they will offer both BPS and Cabela's branded credit cards that will include their loyalty programs. It'll be like any other rewards card or miles card offered through a big bank and not directly from the company.
He's correct on the cc portion of the purchase.
Please keep in mind OutdoorsFIRST works for BassProShops1source.com under the Pros4- 1source moniker. We've met the folks down there in Missouri personally, and can tell you without hesitation there's no one in this business who works harder to meet their consumers needs. Overall, this will be very positive for Cabela's. As to the 'I hope they' stuff, READ the release, please, it should answer any question on that front.
A number of the same concerns were offered when BPS bought Ranger, Triton, and Stratos. Other than some basic differences in philosophy that caused some personnel changes, all those brands are doing very well indeed. |
|
| |
|
Posts: 750
Location: Minneapolis, MN | I, and I assume most others, have read the press releases/statements, and at the end of the day they aren’t worth the monthly cost I pay to access the internet on which I read them. Yes, there are no immediate plans to change things, but that doesn’t mean 5 years down the road you won’t see big changes. BPS buying Ranger added a premier brand to their portfolio, BPS buying Cabela’s gives them direct control of their biggest competitor, it’s like Ford buying Chevy, not when Ford bought Jaguar. Eventually they are going to run into situations where they are cannibalizing themselves or where it makes more sense to condense their product lines, and that’s when you are going to start seeing big changes. 5 years from now you won’t be choosing from Redhead or Cabela’s branded items. Right now I can walk into my local Cabela’s and see Alumacraft, Lowes, Stratus, and Ranger fishing boats, the three times I’ve been in a Bass Pro it’s been Tracker, Tracker, Tracker.
And yes, neither BPS or Cabela’s are the best for everything musky, but there’s a lot more than just baits that goes into chasing these beasts, and that’s where BPS and Cabela’s outshine your small specialized stores. Yes TB has the better selection of musky baits, but for everything else Cabela’s has the bigger selection.
|
|
| |
|
Posts: 13688
Location: minocqua, wi. | take the time to look at store map locations of both companies ... it's complementary and not predatory in 80% of locations and if you argue the strategic logic you're just arguing to argue.
|
|
| |
|
Posts: 32886
Location: Rhinelander, Wisconsin | What sled posted.
If you walked into a Cabela's a month ago and saw a Ranger, Triton, or Stratos for sale, you were looking at an arch competitor selling brands BPS owns.
Some Cabela's were allowed to sell select independent brands, and probably will be alowed to into the future because of major dealers for the BPS brands already in the regional marketplace...that didn't change. If thee is a top 5 Ranger dealer a rock throw from a local Cabela's, they may stock a regional brand instead.
Read and believe what was said earlier about Cabela's and Sears had everything remained as it was.
Last thing, I am pretty sure the release wasn't crafted to please any one person and they didn't appear to be asking for approval or permission. Many of us in the media opted to publish the short version minus the extensive financial banter. |
|
| |
